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Updated over 1 year ago on . Most recent reply
![Yash Bhatt's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1287930/1621511008-avatar-yashb3.jpg?twic=v1/output=image/crop=1080x1080@0x64/cover=128x128&v=2)
Looking for a HELOC / 2nd mortgage on an investment property
Hi,
We bought and rehabbed a home and it's been active as a short term rental for almost a year now in Sedona, AZ. We are looking to pull some cash out to recover our rehab costs and having a hard time finding a solution. We secured a 3.5% loan so we would like to avoid doing a cash out refinance. Ideally, we were looking to see if a private investor would do a 2nd position mortgage or HELOC.
loan balance is 740k
house would appraise between 1.3-1.4 million
We would like to pull out 200k
willing to discuss all creative options.
Thanks for considering!
Yash